Bitumen / Asphalt
Overview
Global bitumen and asphalt spot prices are influenced by changing supply and demand fundamentals, VGO and crude prices. Argus is the only provider of global bitumen and asphalt spot prices assessed by a global team of reporters, based on market trade. Spot price coverage includes regional truck, rail and seaborne prices.
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Browse the latest market moving news on the global bitumen and asphalt industry.
Shell issues rare Rotterdam bitumen sell tender
Shell issues rare Rotterdam bitumen sell tender
London, 4 July (Argus) — Shell has issued a rare sell tender for a 5,000t bitumen cargo, offering various grades for loading in the Rotterdam area during August, according to two European trading firms invited to bid. The tender includes grade options such as pen 35/50 and 50/70, both commonly used in road paving. Bidding closes on 10 July. Market participants expect at least one of the invited firms not to bid, citing a lack of cargo requirements during August — a period when bitumen demand typically falls across northwest Europe as road construction slows during the summer holiday season. Participants also noted rising cargo availability in the region ahead of the seasonal slowdown, which affects countries including France, Germany, the Benelux states and the UK from mid-July through to late August. Shell is among Europe's leading bitumen suppliers, with much of its output coming from the 420,000 b/d Pernis refinery in Rotterdam. The company also has exclusive access to bitumen tank storage at the HES terminal in Botlek, where tankers of up to 35,000t can be loaded for export. Smaller volumes are regularly shipped from Shell's Delfzijl facility in northeast Netherlands. Shell supplies bitumen under term contracts — including recent deals with Nordic buyers — and also sells on a spot basis. Tender offerings by the company, especially from the Rotterdam area, are relatively uncommon, traders said. Shell officials were unavailable for comment. By Keyvan Hedvat Send comments and request more information at [email protected] Copyright © 2025. Argus Media group . All rights reserved.
S Africa's Natref refinery set for July-Oct work
S Africa's Natref refinery set for July-Oct work
London, 26 June (Argus) — South Africa's 107,000 b/d Natref refinery in Sasolburg will undergo a partial maintenance shutdown from July to October affecting several of its units. The turnaround is understood from South African market sources to affect units producing gasoline, middle distillates and heavy end products, including bitumen. The refinery's bitumen customers received communication on 24 June from UK-based Prax Group, Natref's minority shareholder with a 36.4pc stake, saying the refinery will undergo maintenance work from 14 July to 8 October. An official at Sasol, which holds a 63.3pc controlling stake in Natref, said today it could not comment on the refinery's maintenance plans, while Prax officials have so far been unavailable for comment. The refinery's bitumen customers were informed in April that it would cease bitumen production in September, with final stocks of the product to be sold out a month later. The move will be one of the results of a major upgrade programme at the refinery that will enable it to run on light sweet crudes and comply with the country's Clean Fuels 2 regulations that come into force on 1 July 2027. Bitumen market participants said they have been informed that Sasol will maintain normal bitumen production and supply during the upcoming turnaround, while Prax will have no availability of the product. Bitumen production and truck loadings only resumed in early June , following an unexpected outage in mid-May caused by steam supply issues. By Fenella Rhodes Send comments and request more information at [email protected] Copyright © 2025. Argus Media group . All rights reserved.
China Chambroad exports bitumen under zero-tariff rules
China Chambroad exports bitumen under zero-tariff rules
Singapore, 24 June (Argus) — Chinese independent refiner Chambroad has exported its first bitumen cargo from Hainan province's free-trade port under a zero-tariff policy for raw materials and crude oil processing, in a step towards more competitively priced bitumen exports. The zero-tariff policy allows refiners to process and export bitumen without paying value added tax (VAT) on crude imports, thereby lowering production costs. The zero-tariff policy applies only to feedstocks used to export bitumen. Feedstocks used to produce bitumen for the domestic market and to produce other products will be subject to VAT and other duties. The first cargo was loaded on the 5,255dwt Leo Asphalt II at Hainan's Yangpu port on 20 June and was discharged in Haiphong, Vietnam on 23 June, data from oil analytics firm Vortexa show. Lower production costs from VAT-free crude feedstocks under the policy will likely lead to price reductions in seaborne bitumen offers from Chambroad's 2mn t/yr Hainan plant in the future, market participants said. But it is unclear when the refiner will ease export prices, they added, as supply allocation depends on domestic and export market fundamentals. Profit margins from domestic sales are better than for exports as seaborne values are lower than domestic prices, a source close to the refiner told Argus. The zero-tariff policy is expected to reduce the differences in profit margins between domestic and export sales, providing the refiner with greater leeway to allocate more of its production for exports in the future. But the zero-tariff policy is currently under trial implementation, another source close to the company said, indicating that it may not be applicable for all the companies exporting from Hainan in the near term. Seaborne prices of south China cargoes have recently risen following firming upstream crude and high-sulphur fuel oil values , also trailing gains in fob Singapore ABX 1 values, despite overall sluggish demand in southeast Asia. Offer levels and selling indications for export cargoes were at around $410-430/t fob south China last week, market participants told Argus. This was up from $405-420/t fob south China during the week ending 13 June. By Claire Ng and Sathya Narayanan Send comments and request more information at [email protected] Copyright © 2025. Argus Media group . All rights reserved.
Refinery maintenance to limit Bahrain's bitumen exports
Refinery maintenance to limit Bahrain's bitumen exports
Mumbai, 15 May (Argus) — Bitumen export supply from Bahrain state-controlled refiner Bapco's 267,000 b/d Sitra refinery is expected to fall in May-June because of upcoming planned maintenance work and subsequent upgrading work at the plant, international bitumen traders and importers told Argus . The planned maintenance is scheduled to start around the end of May and will limit bitumen output as a vacuum distillation unit (VDU) will be taken off line, market participants close to the refinery said, but further details on the turnaround was unavailable. Some international traders and importers told Argus that Bapco will not offer waterborne cargoes during the turnaround, which is expected to last through June, and available inventories will be reserved for domestic consumption. Listed seaborne bitumen prices are at $370/t fob Sitra, unchanged since mid-April. Earlier this month, the 3,394 deadweight tonne Sidra Al Wakra vessel loaded a 3,100t cargo from Sitra for discharge in Qatar, shiptracking data from global trade and analytics firm Kpler show. The same vessel is scheduled to load a similar-sized cargo in the coming week, the data showed, but it was unclear if this would be the last bitumen tanker loading schedule ahead of the turnaround. Import demand for Bahraini cargoes has been lacklustre since 2024 because of competitive offers from neighbouring Iran, and only those with special requirements were enquiring for Bahraini cargoes. Import demand was mostly from Qatar, the UAE, and South Africa's Durban. The weekly fob Iran bulk price was assessed by Argus at $342.50/t on 9 May, at a discount of $27.50/t to Bahrain's listed seaborne prices. The Argus -assessed fob Iran bulk prices were at a discount of $109.90/t on average to Bahrain's listed seaborne prices in 2024. The discounts widened to as high as $201/t at the end of May last year. Meanwhile, the Sitra refinery is undergoing upgrading as part of the $7bn flagship Bapco Modernisation Project (BMP), which will increase the refinery's capacity to 380,000 b/d from 267,000 b/d. The project was inaugurated towards the end of last year and currently the refinery is likely starting up secondary units, but further details on the progress of this were not available. The upgraded refinery will primarily increase output of middle distillates, indicating that output of heavier products such as bitumen will be reduced, especially with the start-up of the secondary units. By Sathya Narayanan, Ieva Paldaviciute and Keyvan Hedvat Send comments and request more information at [email protected] Copyright © 2025. Argus Media group . All rights reserved.
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